2023年8月8日

分享麥哲倫金融集團將在下周公布年度報告,讓投資者有機會深入其四麵楚歌的基金管理業務。但是大量的審查將在最認真的投資:Barrenjoey Capital Partners。毫無疑問投資銀行已經麵臨相當大的壓力,在過去的一年,交易量崩潰和費用衰退。Barrenjoey首席執行官布萊恩•Benari執行主席福勒和非執行董事約翰Cincotta。路易Douvis值得慶幸的是,澳大利亞以來首次本土投資銀行麥格理釣一條大魚在Suncorp集團將其50億美元的銀行。Suncorp的董事會和管理團隊在Barrenjoey去年6月,導致澳新銀行試圖實現最大的澳大利亞銀行交易超過十年之久。Barrenjoey會在2000萬美元的費用,消息人士告訴街說話,代表大約0.4%的49億美元交易。但現在結盟後看起來比第一次理解複雜得多的競爭監管機構阻止收購周五擔心它將“進一步鞏固一個寡頭壟斷”,導致競爭減少。廣告Barrenjoey最大的希望收集的費用是一個成功的法庭挑戰後,澳新銀行/ Suncorp發誓要澳大利亞競爭法庭的決定提起上訴。這將延遲最終裁定約六個月。 Barrenjoey last reported a $5.3 million profit for the year ending June 2022. Corporate finance, which includes M&A advisory, and cash equities generated revenue of $226.7 million, and had operating expenses including cost allocations and performance-based remuneration of $166.6 million. Barrenjoey is owned by employees, who hold 45.4 per cent of the company, Barclays (18.2 cent) and Magellan Financial Group (36.4 per cent). Top dogs Naturally, Barrenjoey’s dealmakers have other transactions on the boil, the biggest of which is acting on defence for the $18.4 billion Origin Energy bid. Then there’s lead roles on Transurban’s bid for EastLink , Downer EDI’s asset spin-off spree, the Star Entertainment refinancing, among others. Its equity capital markets team is also on the ticket for the Virgin Australia and Mason Stevens initial public offerings. It will be hoping cash flows from those deals materialise. Another revenue stream is expected to flow from its fixed-income and prime brokerage units, which launched after delays. Advertisement Magellan issued a carrying value of $126 million for its stake in Barrenjoey in its half-year result. It will be interesting to see whether that holds considering depressed activity across the industry and the fact a portion of Barrenjoey’s profit/losses will flow to Magellan. Magellan’s share of the after-tax profits generated by the investments in Magellan Capital Partners was $8.4 million in financial year 2022. In addition, Magellan made an after-tax gain on disposal of $23.4 million from the sale of its 11.6 per cent shareholding in Guzman y Gomez and a one-off gain on dilution of $17.6 million resulting from Barclays’ $75 million additional investment in Barrenjoey . Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter . Email Emma at emma.rapaport@afr.com Save